Topic: “The World has shrunk, outer space has become the area of explorations. C

Topic:
“The World has shrunk, outer space has become the area of explorations. Countries like US
and Russia have been exploring the unknown; Russia launched and landed on Moon with
their space craft “Lunar” on September 12, 1959, followed by US landing Apollo 17 on the
Moon in 1979. Since then, several countries have launched space crafts in the quest to
explore the unknown World – “The Space” The day is not far when the scientists will find a
way to live on those planets that are not reachable.
Make belief that this has happened and that the countries are now expanding in every area.
If that happens, World will undergo a drastic change. Will the countries/economies remain
the same?
Analyze the changes of such technological advancement on the following areas:
1. Impact on consumption/consumers, aggregate demand
2. Impact on growth of GDP
3. Impact on International trade
4. Impact on Immigration/employment
5. Impact on travel and transportation
6. Your impressions
7. Lessons learnt – as a student of economics
Instructions:
1. The paper should be typed.
2. The paper cannot exceed 6 typed pages – font 11 or 12.
3. Attachments will not be counted as a part of your paper i.e. data; newspaper clips/web
pages etc.
4. The paper should be original and not copied. Any copied material will not be accepted
and will get a zero automatically.
Hint: Use your knowledge; think about this change; think in terms of all the macro
issues that we would experience while technological arena changes in our country and
the World.